Data Gathering and cleansing for analytics The process of collecting data and making it suitable for performing analytics can be done without any manual intervention. This includes,
Risk Assessment RPA can be applied to classify the annual risk assessment process. Where Bots are used to collect feedback from participants up-front and assess the risks accordingly. Population Gathering Bots can be implemented to gather standard evidence for controls and processes data populations accurately than humans. RPA can be applied to analyze thousands of statement documents for large populations that requires heavy resources to process. Automation of controls Bots can be implemented to run control testing for control areas that are standardized. RPA can assist in the following areas
Benefits of RPA in Internal Audit
Auditing an RPA environment is different from traditional audits. Auditors must up-skill themselves to audit such complex environments. The audit approach will move towards testing more preventive controls and will see more of exceptions-based testing rather than transaction-based audits. |